Derivatives and hedging activities (Tables)

3 Months Ended

Mar. 31, 2023

Derivatives and hedging activities

Schedule of amounts were recorded on the balance sheet related to cumulative basis adjustment for fair value hedges

Line Item in the Statement of Financial Position in Which the Hedged Item is Included		Amortized Amount of the Hedged Assets/(Liabilities)				Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities)
(Dollars in Thousands)		2023		2022		2023		2022
AFS Securities (1)	$	100,000	$		$	1,986	$
Total	$	100,000	$		$	1,986	$

(1) These amounts include the amortized cost basis of closed portfolios of fixed rate assets used to designate hedging relationships in which the hedged item is the stated amount of assets in the closed portfolio anticipated to be outstanding for the designated hedged period. At March 31, 2023, the amortized cost basis of the closed portfolios used in these hedging relationships was $146.1 million. The amounts of the designated hedged items were $138.6 million.

Schedule of fair value of derivative financial instruments and balance sheet classification

Fair Values of Derivative Instruments
		Derivative Assets								Derivative Liabilities
		As of March 31, 2023				As of December 31, 2022				As of March 31, 2023				As of December 31, 2022
(Dollars in Thousands)		Notional Amount	Balance Sheet Location		Fair Value	Balance Sheet Location		Fair Value		Notional Amount	Balance Sheet Location		Fair Value	Balance Sheet Location		Fair Value
Derivatives designated as hedging instruments
Interest Rate Products	$	25,000	Other Assets	$	1	Other Assets	$	1	$	100,000	Other Liabilities	$	1,970	Other Liabilities	$
Total derivatives designated as hedging instruments				$	1		$	1				$	1,970		$
Derivatives not designated as hedging instruments
Interest Rate Products	$	208,147	Other Assets	$	18,963	Other Assets	$	22,195	$	208,147	Other Liabilities	$	18,392	Other Liabilities	$	21,466
Other Contracts		1,522	Other Assets		6	Other Assets				6,307	Other Liabilities		2	Other Liabilities
Total derivatives not designated as hedging instruments				$	18,969		$	22,195				$	18,394		$	21,466

(1) Amounts include accrued interest.

(2) Notional amount of interest rate floor at December 31, 2022 was $25.0 million. Notional asset amount of interest rate swaps at December 31, 2022 was $187.3 million and $1.5 million for risk participation agreements.

Schedule of effect of fair value and cash flow hedge accounting on accumulated other comprehensive income

(Dollars in Thousands)	Amount of Gain or (Loss) Recognized in OCI on Derivative	Amount of Gain or (Loss) Recognized in OCI Included Component	Amount of Gain or (Loss) Recognized in OCI Excluded Component	Location of Gain or (Loss) Recognized from Accumulated Other Comprehensive Income into Income	Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income	Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Included Component	Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Excluded Component
March 31, 2023	2023				2023
Derivatives in Cash Flow Hedging Relationships
Interest Rate Products	$ 1		$ 1	Interest Income	($ 16)		$ 16
Total	$ 1		$ 1		($ 16)		$ 16
(Dollars in Thousands)	Amount of Gain or (Loss) Recognized in OCI on Derivative	Amount of Gain or (Loss) Recognized in OCI Included Component	Amount of Gain or (Loss) Recognized in OCI Excluded Component	Location of Gain or (Loss) Recognized from Accumulated Other Comprehensive Income into Income	Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income	Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Included Component	Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Excluded Component
March 31, 2022	2022				2022
Derivatives in Cash Flow Hedging Relationships
Interest Rate Products	($ 361)	(439)	$ 78	Interest Income	$ 131	147	($ 16)
Total	($ 361)	($ 439)	$ 78		$ 131	$ 147	($ 16)

* Amounts disclosed are gross and not net of taxes.

Schedule of effect of derivative financial instruments on Income Statement

	Location and Amount of Gain or (Loss)
	Recognized in Income on Fair Value and
	Cash Flow Hedging Relationships
	For the three months ended March 31,
		2023		2022
(Dollars in Thousands)		Interest Income		Interest Income
Total amounts of income and expense line items presented in the
statement of financial performance in which the effects of fair value or
cash flow hedges are recorded	$	15	$	131
The effects of fair value and cash flow hedging:
Gain or (loss) on fair value hedging relationships
Interest contracts
Hedged items		1,986
Derivatives designated as hedging instruments		(1,955)
Gain or (loss) on cash flow hedging relationships
Interest contracts
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income		(16)		131
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income - Included Component				147
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income - Excluded Component	$	(16)	$	(16)

Schedule of gain (loss) on derivative instruments not designated as hedging instruments

		Amount of Gain or (Loss)		Amount of Gain or (Loss)
		Recognized in		Recognized in
	Location of Gain or (Loss)	Income on Derivative		Income on Derivative
	Recognized in Income on	Three Months Ended		Three Months Ended
(Dollars in thousands)	Derivative	March 31, 2023		March 31, 2022
Derivatives Not Designated as Hedging Instruments:
Interest Rate Products	Other income / (expense)	$	(161)	$	240
Other Contracts	Other income / (expense)				2
Total		$	(161)	$	242
Fee Income	Fee income	$	384	$	103

Schedule of offsetting derivatives

Offsetting of Derivative Assets
as of March 31, 2023
						Gross Amounts Not Offset in the Balance Sheet
	Gross			Net Amounts
	Amounts of		Gross Amounts	of Assets
	Recognized		Offset in the	presented in the		Financial		Cash Collateral		Net
	Assets		Balance Sheet	Balance Sheet		Instruments		Posted		Amount
Derivatives	$	18,964	$	$	18,964	$		$	17,280	$	1,684
Offsetting of Derivative Liabilities
as of March 31, 2023
						Gross Amounts Not Offset in the Balance Sheet
	Gross			Net Amounts
	Amounts of		Gross Amounts	of Liabilities
	Recognized		Offset in the	presented in the		Financial		Cash Collateral		Net
	Liabilities		Balance Sheet	Balance Sheet		Instruments		Posted*		Amount
Derivatives	$	20,365	$	$	20,365	$	20,365	$		$
*Cash collateral of $1,710 was paid in March 2023, but not presented in the table above.
Offsetting of Derivative Assets
as of December 31, 2022
						Gross Amounts Not Offset in the Balance Sheet
	Gross			Net Amounts
	Amounts of		Gross Amounts	of Assets
	Recognized		Offset in the	presented in the		Financial		Cash Collateral		Net
	Assets		Balance Sheet	Balance Sheet		Instruments		Posted		Amount
Derivatives	$	22,196	$	$	22,196	$		$	14,530	$	7,666
Offsetting of Derivative Liabilities
as of December 31, 2022
						Gross Amounts Not Offset in the Balance Sheet
	Gross			Net Amounts
	Amounts of		Gross Amounts	of Liabilities
	Recognized		Offset in the	presented in the		Financial		Cash Collateral		Net
	Liabilities		Balance Sheet	Balance Sheet		Instruments		Posted		Amount
Derivatives	$	21,466	$	$	21,466	$	21,466	$		$